Prosper Group and Versluys Group Announce $650M Ultra-Luxury Tower on the Miami River

Prosper Group, a Miami-based real estate development firm, has partnered with Belgium’s Versluys Group, one of Europe’s leading luxury property developers, to deliver a $650 million waterfront residential tower on the Miami River in Brickell, the city’s financial district. The collaboration marks Versluys Group’s official entry into the U.S. market and adds another world-class project to Miami’s expanding skyline.

The development will rise 60 stories across three prime parcels — 99 SW 7th Street, 66 SW 6th Street, and 625 SW 1st Avenue — which Prosper Group acquired earlier this year. Plans call for 158 ultra-luxury residences with over 300 feet of direct river frontage, offering residents a blend of urban sophistication and waterfront living. Delivery is anticipated for 2028.

“We’re honored to partner with Versluys Group, led by CEO Bart Versluys and COO Peter De Decker, whose century-long legacy of craftsmanship aligns perfectly with Prosper’s forward-looking vision for Miami’s next great waterfront address,” said Jay Roberts, CEO of Prosper Group.

Founded in 1908, Versluys Group brings more than a century of development expertise to the joint venture. The firm is known across Belgium and the Netherlands for its luxury coastal projects that pair refined European design with meticulous attention to detail. Versluys also completed the full renovation of La Réserve, a five-star superior hotel in the exclusive seaside town of Knokke-Heist, recognized as one of Belgium’s most prestigious hospitality destinations.

“That Versluys Group was selected from a range of internationally renowned developers is no coincidence,” said Bart Versluys, CEO of Versluys Group. “Since 1908, uncompromising quality standards, unmatched attention to detail, and a deeply rooted customer focus have formed the foundation of our company—values that align seamlessly with Prosper Group’s vision.”

Peter De Decker, COO of Versluys Group, added: “Jay Roberts and his exceptional team mirror our passion for innovation and our commitment to excellence. Having explored the Miami market, I’ve witnessed firsthand the extraordinary energy and momentum of this city. Together, we’re uniting European finesse with American drive to create something truly remarkable.”

Situated along the Miami River, the development will combine walkability, waterfront access, and connectivity, placing residents within steps of Brickell City Centre’s retail and dining destinations and minutes from Biscayne Bay’s boating and yachting lifestyle. The site also offers easy access to I-95, Miami International Airport, and Brightline, providing seamless mobility throughout South Florida and beyond.

Mast Capital & AEW Sell 342-unit Apartment Building in Miami River District

Mast Capital and AEW Capital Management have completed the sale of Remi on the River, a 342-unit luxury apartment community along the Miami River, to Valeris Capital. CBRE’s Robert Given, Troy Ballard, and Michael Mulkern advised on the sale. The transaction highlights continued investor demand for well-located multifamily assets in Miami’s growing urban core.

Delivered in 2024, Remi on the River is located at 999 NW 7th Street, minutes from Brickell, Downtown Miami, and the Miami Health District. The waterfront property spans more than 400 feet of river frontage and offers a mix of studios, one-, two- and three-bedroom units ranging from 465 to 1,334 square feet.

Residences feature European-style kitchens with stainless-steel appliances, select units with built-in wine refrigerators, and expansive views of the river and city skyline. Amenities include a resort-style pool, aqua lounge, fitness center, coworking lounge, clubroom, and access-controlled parking. The project was designed by Corwil Architects.

“The sale of Remi on the River underscores the property’s exceptional lease-up performance, the quality of its design and amenities, and the growing appeal of the Miami River District as a premier destination for waterfront living,” said Camilo Miguel Jr., CEO and Founder of Mast Capital.

The Miami River has emerged as one of the city’s most dynamic residential and mixed-use submarkets. Stretching 5.5 miles through the city, the river corridor is home to commercial cargo operations, boating activity, and a growing number of lifestyle and residential developments.

Remi on the River’s location places residents within reach of Miami’s cultural institutions, including the History Miami Museum, Miami Children’s Museum, and Museum of Graffiti, as well as nearby retail and dining in Brickell, Wynwood, Midtown, and Miami Beach.

For Mast Capital, the deal reflects the firm’s broader strategy of investing in transformative projects across Miami. “This project reflects our commitment to investing in the continued revitalization of this vibrant neighborhood,” Miguel added.

Tower Capital Partners Launches Offering Exclusive Investor Access To Premier Real Estate Development Opportunities In Miami

PROFILEmiami Founder Demetri Demascus and former auto-industry executive Christian Iacovelli have joined forces to launch Tower Capital Partners, a private equity firm that invests with real estate developers with a proven track record of delivery high-quality real estate development projects and offers individual accredited investors access to private, institutional level deals typically reserved for family offices. Tower Capital Partners has a focus on equity investments in resilient, high-growth markets with an asymmetric risk-return profile and an emphasis on wealth preservation matched with long-term growth.

Tower Capital Partners completed their first deal in Q3 2024, closing a preferred equity deal in Atlanta alongside The Allen Morris Company. Tower Capital Partners is now actively raising capital for two upcoming luxury condominium projects—one in Coconut Grove and one in Coral Gables—marking its formal entry into the South Florida market. While the details of these projects remain confidential, they underscore the firm's focus on iconic developments in prime, demand-driven locations.

Tower Capital Partners is redefining individual accredited investor access to premier real estate opportunities. The firm is built on the core thesis of investing alongside top-tier real estate developers with a proven track record of delivering high-quality projects in high-growth cities. Tower Capital Partners is focused on providing accredited investors with access to private, institutional-level deals that were historically reserved for family offices and large investment firms. With a commitment to transparency, aligned incentives, and a minimum investment of just $50,000, Tower Capital Partners is creating a new level of access to exclusive real estate investments.

The firm targets opportunities with an asymmetric risk-return profile, emphasizing downside protection while maximizing upside potential. Every project is carefully vetted, and the team invests alongside its limited partners in each deal, ensuring complete alignment. Key reasons to invest with Tower Capital include partnerships with the best developers, curated deal flow, and a clear, investor-first structure that puts transparency and performance at the forefront.

Tower Capital Partners is led by Babson College roommates, Managing Partners Demetri Demascus and Christian Iacovelli, who oversee all aspects of deal origination including sourcing investments and partnerships, capital raising, underwriting, due diligence, market research, asset management, investor relations and management of operations. Demetri is also the Founder and Publisher of leading South Florida real estate news and events platform PROFILEmiami which runs the annual PROFILE Pre-Construction Development Summit; is a licensed real estate broker in the State of Florida having overseen over $160+ million in real estate transactions and previously helped Galium Capital, a Miami-based real estate private equity group, grow the firm’s AUM from $300+ million to $650+ million. Christian led Rally Manufacturing, a successful automotive accessories manufacturing business, to over $500 million in retail sales, where he successfully managed multinational brand partnerships with industry giants such as Goodyear and forged strong relationships with leading U.S. and multinational retailers including Walmart, The Home Depot, and AutoZone.

To learn more about Tower Capital Partners visit www.towercapitalpartners.com.

Accredited investors and real estate development companies interested in working with Tower Capital Partners fill out the form below:

Focus and Group Fox secure administrative site plan approval for Brickell Apartment tower

Focus, a seasoned real estate development and construction firm, and Group Fox, a family-owned property and asset management firm, both headquartered in Chicago, have received administrative site plan approval for their latest project, the 517-unit Brickell Starlite apartment tower. This milestone sets the stage for the development of a 39-story luxury high-rise in the heart of Miami’s Brickell neighborhood.

“We are thrilled to finalize the entitlements on this property in Miami,” said Tim Anderson, CEO and Founder of Focus. “The world-class design, unparalleled location, and favorable zoning were strategically developed to meet the needs of the modern renter flocking to the Brickell neighborhood.”

Located within walking distance of the Brickell Metrorail station, the property will offer seamless access to Miami’s Brightline, Tri-Rail, Metrorail, and Metromover transit systems, providing residents with connectivity across South Florida. The developers and design team, led world renowned architectural firm Gensler, proposed a pedestrian and vehicular paseo at the building’s base, linking 7th and 8th streets. This feature will enhance accessibility to retail spaces within the tower and improve connectivity to the nearby I-95 on- and off-ramps.

The Brickell neighborhood remains a focal point for rental demand in South Florida, driven by a booming economy, favorable tax policies, and national migration trends. In 2024, Miami recorded its most competitive rental market in recent history, with apartments renting in an average of just 33 days and nearly 20 renters vying for each available unit.

Focus and Group Fox are in the final stages of permitting for the project and have enlisted a Cushman & Wakefield team—including Chris Lentz, Chris Moyer, Jeff Altenau, Susan Tjarksen, and Marc Royer—to capitalize the development.

Chris Lentz, Executive Director at Cushman & Wakefield, emphasized the project’s significance: “Brickell Starlite is a landmark multifamily development in Miami’s most vibrant and sought-after Brickell neighborhood and represents one of the only new luxury high-rise multifamily products underway in this well-occupied submarket. With extremely limited new developments coming online in Brickell, and the most recent multifamily deliveries dating back to 2019 and 2021, Brickell Starlite is uniquely positioned to meet the strong sustained demand for luxury.”

Coworking Giant Regus Leases Entire Building in South of Fifth

Regus, a global leader in flexible office spaces, has secured a long-term lease for the entirety of 429 Lenox, a 45,789-square-foot Class A boutique office building in Miami Beach’s South of Fifth neighborhood. This marks Regus’ largest footprint in the area, reflecting the growing demand for coworking spaces in South Florida.

The lease was brokered by Colliers South Florida, with Vice Chair Stephen Rutchik and Vice President Ana Paula representing the landlord, Azora Exan. JLL’s Adam Bernstein represented Regus in the transaction.

“429 Lenox's prime location in the highly sought-after South of Fifth neighborhood made it an exceptional choice for Regus’ expansion,” said Paula. “As the market shifts towards prioritizing lifestyle, prime location, and modern workspaces, the property offers an unmatched blend of unique rooftop access, plug-and-play office solutions, and contemporary amenities. Its proximity to the MacArthur Causeway ensures seamless access in and out of Miami Beach, positioning it as an unparalleled option for today’s forward-thinking businesses.”

Designed by renowned architect Kobi Karp, 429 Lenox features contemporary office spaces tailored for businesses seeking a prestigious address in a dynamic, amenity-rich environment. Key features include a rooftop deck, on-site parking, and prime signage opportunities. Its South of Fifth location provides easy access to luxury residences, upscale dining, and Miami’s iconic beaches.

Arturo Vinueza, Vice President of Investments at Azora Exan, highlighted the significance of the lease: “We are excited to welcome Regus at 429 Lenox, marking a new chapter for our office building in the vibrant South of Fifth neighborhood. This lease highlights the strength of premium office space in Miami, particularly in walkable, amenity-rich areas, aligning with our national office investment thesis. We look forward to welcoming a diverse community of entrepreneurs and professionals who will thrive in this environment.”

Regus plans to operate the location under its SPACES brand, emphasizing flexibility and innovation in workspace solutions. The new office is set to open in the fourth quarter of 2024 and will join Regus’ other Miami Beach locations, solidifying its presence in the market.

The full-building lease underscores the increasing appeal of coworking spaces in Miami Beach, where office vacancy rates remain low, recorded at just 8.7% in Q3 2024. As companies continue to embrace hybrid work models, demand for adaptable, lifestyle-driven workspaces is surging. Coworking spaces like those offered by Regus cater to businesses seeking environments that enhance productivity and work-life balance.

The broader trend aligns with a post-pandemic shift in workplace priorities, with businesses opting for premium, flexible spaces in prime locations. The 429 Lenox lease reflects this evolution, cementing Miami Beach’s status as a competitive and vibrant office market.

Eighteen Sunset Achieves Full Occupancy in Miami Beach’s Thriving Office Market

Eighteen Sunset, a highly anticipated mixed-use boutique development in Miami Beach’s Sunset Harbour neighborhood, has achieved full occupancy for its premium office spaces. The 17,708 square feet of Class A+ office space has been fully leased, highlighting the surging demand for luxury work environments in Miami Beach.

Colliers, led by Vice Chair Stephen Rutchik, managed the leasing process on behalf of the landlords, Deco Capital Group and RWN Real Estate Partners. CBRE’s Executive Vice Presidents Jeff Gordon and Barbara Black represented the tenants in the transactions.

The property has attracted a carefully curated mix of tenants, including a globally recognized private equity firm and luxury lifestyle brand Audemars Piguet. Both organizations were drawn to Eighteen Sunset’s unique blend of high-end design, waterfront views, and proximity to Miami Beach’s dynamic cultural and business hubs.

Developed by Deco Capital Group and constructed by Origin Construction, Eighteen Sunset is located at 1759 Purdy Avenue, offering tenants direct access to Maurice Gibb Park, the Sunset Harbour Marina, and upscale dining and retail options. Its strategic location combines proximity to Miami Beach’s active community with unobstructed views of the Intracoastal Waterway and Venetian Islands.

Stephen Rutchik of Colliers emphasized the property’s role in meeting modern workspace needs: “Eighteen Sunset represents the future of workspaces in Miami Beach. Its boutique design, unmatched amenities, and premier location reflect the evolving preferences of businesses seeking more than just office space.”

Slated for completion later this year, Eighteen Sunset is poised to set a new benchmark for elite office environments in Miami Beach’s competitive real estate market.

Adam Neumann Launches First Condo Project at Miami Worldcenter

Adam Neumann, co-founder of Flow, has announced the launch of his first condominium development project in Downtown Miami, marking Flow's expansion into the ownership market. The project, named Flow House, will be located in Miami Worldcenter and will include 466 units spread across 40 stories. Slated for delivery in 2025, Flow House will offer luxury living with a range of amenities, including coworking spaces, a fitness center, poolside restaurant, and spa. Sales will be managed by One World Properties led by Peggy Olin, with prices starting at $450,000 for studios.

Flow House is designed to address the growing demand for community-focused urban living, reflecting Flow’s ethos of integrating work, wellness, and connectivity into the residential experience. The project targets a wide range of buyers, with options from studios to larger one-bedroom units, all offering floor-to-ceiling windows and high-end finishes. Some units include private balconies, and residents can upgrade to gourmet kitchens as part of the customization options available.

Located at 697 N Miami Avenue, Flow House is part of the rapidly growing Miami Worldcenter district, a prime location close to restaurants, entertainment, and major transportation networks. The development aims to provide residents with both the convenience of city living and the wellness-focused amenities associated with Flow properties.

“We learned while building Flow over the last two years that the exact same needs faced by renters are also faced by owners in terms of lack of community and lack of connectivity,” said Flow co-founder Adam Neumann. “We are excited to build upon our vision and bring the full Flow experience, which is rooted in community and a sense of belonging, to anyone looking for a better experience from their permanent residence.”

In addition to the residential units, Flow House will feature a variety of shared spaces designed to enhance the resident experience, including coworking areas, a resort-style pool, yoga studios, and concierge services. The development also includes amenities such as a dog run, restaurant, and spa facilities, which cater to both the professional and leisure needs of residents.

Flow, which has been supported by venture capital firm a16z, is expanding its portfolio across the U.S. and internationally. The Miami condo project represents a major milestone in the company’s growth as it continues to develop properties that prioritize community, connectivity, and sustainable living.

For more information about Flow House or to inquire about purchasing a unit please fill out the form below:

Aztec Group Facilitates $55.6 Million Financing for Arcadia Gardens in Palm Beach Gardens

Aztec Group, a prominent real estate investment and merchant banking firm serving Florida for four decades, has announced its successful arrangement of $55.6 million in bridge financing for Arcadia Gardens, located in Palm Beach Gardens, Florida. This luxury age-restricted rental apartment community, encompassing 220 units across 10.64 acres, represents a significant investment in senior living infrastructure.

Developed in 2021, Arcadia Gardens offers residents a premium living experience coupled with a comprehensive amenity package. The centerpiece is its 15,210-square-foot clubhouse, featuring a plethora of amenities such as a fitness center, salon, movie theatre, and various sports courts including pickleball, bocce, and croquet. The community also boasts a pool, spa, walking trail, community garden, and full onsite dining facilities, ensuring residents have access to everything they need for a fulfilling lifestyle.

Strategically located in Palm Beach Gardens, Arcadia Gardens offers residents the convenience of easy access to over 2.9 million square feet of retail space within a one-mile radius. The proximity to The Gardens Mall, a renowned upscale shopping destination, further enhances the appeal of this vibrant community.

The project is managed by affiliates of the United Group of Companies based in Troy, NY, and Sina Companies of Palm Beach Gardens, FL. The United Group of Companies brings over 50 years of industry expertise to the management of Arcadia Gardens, further ensuring the success and quality of the development.

The financing for Arcadia Gardens was secured through MetLife and provides favorable terms, including full-term interest-only and a 36-month term. Peter Mekras, President of Aztec Group, emphasized the meticulous selection process, stating, “Aztec sourced multiple proposals for the financing of Arcadia Gardens and worked with the sponsors to select the capital source that could move quickly and understood the unique attributes of this age-restricted community.”

Aztec Group's success in arranging nearly $200 million in bridge financing in the first five months of 2024 underscores its expertise and commitment to facilitating transformative real estate projects.

Royal Palm Companies Secure $86 Million Financing for Tuscany Village

In a significant stride towards expanding quality residential options in Orlando, Royal Palm Companies led by Dan Kodsi and the Mattoni Group proudly announce the securing of an $86 million construction financing loan and the launch of Tuscany Village, a sprawling 420-unit multifamily complex set to enhance the Sanford area.

Strategically located at the southwest corner of State Road 46 and Upsala Road, Tuscany Village is poised to become a cornerstone community within Sanford, spanning 21 acres with seven four-story buildings. With construction slated to commence in the coming weeks and phased completion expected by 2026, the project is primed to transform the local residential landscape.

The acquisition of the development site at 4201 West First Street in June for $12.7 million laid the foundation for this ambitious venture. Financing for Tuscany Village has been secured through a partnership with City National Bank and Abanca USA, contributing $68 million in loans, and Origin Investments, providing $18 million in preferred equity. Notably, these financial arrangements feature floating interest rates without a rate cap, reflecting confidence in the project despite current economic uncertainties.

Royal Palm Companies, renowned for its innovative approach to real estate development since its inception in 1978, boasts a portfolio of $4.7 billion in developed, repositioned, and under-construction projects, including over 9,500 completed residential units. The collaboration with the Mattoni Group underscores the significance of Tuscany Village, leveraging their combined expertise to ensure the delivery of a top-tier residential community.

Despite challenges such as elevated interest rates, insurance premiums, and regional specifics like high concrete costs in South Florida, the decision to proceed with Tuscany Village reflects the unwavering commitment of Royal Palm and Mattoni Group to innovation, quality, and meeting the evolving needs of Florida's residents.

More than just a development project, Tuscany Village represents a future home for hundreds of families and individuals, meticulously designed to foster a vibrant and connected community. Royal Palm Companies and Mattoni Group are dedicated to bringing this vision to life, positively impacting the Sanford region and the broader Florida housing market.

Affiliate of RPC, Participant Capital Advisors, Launches $250 Million Multifamily Fund

An affiliate of Royal Palm Companies, ‘RPC’, Participant Capital Advisors, a real estate investment firm that manages private equity real estate vehicles, announced the launch of its latest fund: the Participant Capital Sun Belt Multifamily Development Fund 1 (the "Fund"). The Fund has a fundraising target of $250 million in commitments to allocate to multifamily development projects in the booming Sun Belt region. The Fund is a closed-end private equity real estate vehicle with an 8-year projected term. Apex Group Ltd. has been appointed as the Administrator for the Fund. Participant Capital Advisors is affiliated with leading Miami-based development firm Royal Palm Companies, RPC, and is led by Dan Kodsi and Bernie Wasserman.

The Fund will be particularly focused on the state of Florida where it is targeting low-rise multifamily projects in the rapidly growing suburbs of Orlando and Tampa, and mid/high-rise projects in Miami and other major urban centers in South Florida.

"U.S. demographics, migration, work from home trends, and rising residential costs strongly favor multifamily development in Florida," said Participant Capital President Bernie Wasserman. "Florida's stable migration is the backdrop to its major cities experiencing some of the highest rent, job and economic growth in the country. Our latest fund will provide accredited investors with access to this growth story via investments in institutional quality multifamily development projects."

Participant Capital is a real estate investment management firm that empowers wealth managers with the ability to invest their clients' capital in Class A real estate development projects alongside institutional investors. Participant Capital principals have a 30+ year track record in development. Through its affiliation with Royal Palm Companies (RPC), Participant Capital is able to capitalize on a rich development history and experience that spans over 50 real estate projects, 9,500 units, 18 million square feet, and over $4.7 billion of value creation. Participant Capital invests alongside best-in-class institutions in branded real estate including RPC's proprietary development brands: PARAMOUNT®; Legacy Hotel & Residences®; Elevate; and Grand Reserve®.